The difference of skin in the game

The two quotes below illustrate the difference between between private investments in electricity where the investors have skin in the game and regulated investments where those with the skin in the game (i.e., ratepayers) are not a material part of the decision making:

(1) Private investments: "GE Vernova CEO Scott Strazik wants an even bigger order backlog before committing to further expansion." GE’s skin in the game makes them worry about overspending. https://climate.cmail19.com/t/d-e-suhkyhl-ihluijirlk-r/

(2) Regulated investments: "ERCOT and the TSPs estimate the extra high voltage plan could cost 22% more than the lower-voltage alternative; however, it will provide many long-term benefits." The Texas PUC’s lack of skin in the game makes overspending less risky to them. https://ftp.puc.texas.gov/public/puct-info/agency/resources/pubs/news/2025/PUCT_Approves_Plan_for_the_First_Extra_High_Voltage_Transmission_Lines_in_ERCOT_Region.pdf

We need to put the spending decisions back in the hands of those with skin in the game, i.e., the ratepayers. That is one of the many benefits of "Consumer Regulated Electricity" or CRE. CRE is state-level policy that would open the door to new, independent, competitive, and large-scale utilities and grids where, like the name implies, the CONSUMERS would be in charge.